2008 Global Financial Crisis

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Presentation transcript:

2008 Global Financial Crisis 2008.10.19 Compiled by Liao

Content Recession types Liquidity Problem Seven Measures V-shaped recession U-shaped recession L-shaped recession Liquidity Problem Seven Measures Opportunities for Taiwan

Recession Types (1/3) V-shaped Recession Economic Growth Time

Recession Types (2/3) U-shaped Recession Economic Growth Time

Recession Types (3/3) V-shaped Recession Economic Growth Time

Liquidity problems Financial Crisis M&A Bankruptcy Recession Illiquidity Financial Sectors M&A Bankruptcy Unemployment Real Sectors Recession

Global Financial Crisis Seven Measures (1/8) By Nouriel Roubini Interest-rat cuts Deposits guarantee Temporary Freeze on household’s debt Global Financial Crisis Public provision of credit Fiscal stimulus Financing between countries Provision of liquidity

At least 150 basis points on average globally Seven Measures (2/8) Interest-rat cuts At least 150 basis points on average globally What about Japan?

A temporary blanket guarantee of all deposits Seven Measures (3/8) Deposits guarantee A temporary blanket guarantee of all deposits Insolvent financial institutions Distressed but solvent financial institutions Be shut down Partially nationalized and injected

A temporary freeze on foreclosures Seven Measures (4/8) Temporary Freeze on household’s debt A temporary freeze on foreclosures

Provision of liquidity Seven Measures (5/8) Provision of liquidity Massive and unlimited provision of liquidity to solvent financial institutions

To the solvent parts of the corporate sector Seven Measures (6/8) Public provision of credit To the solvent parts of the corporate sector Avoid a short-term refinancing crisis for solvent but illiquid business

Seven Measures (7/8) Fiscal stimulus 1 Public works 2 Infrastructure 3 Unemployment benefits 4 Tax rebate to lower-income households 5 Grants to cash-strapped local governments

Seven Measures (8/8) Financing between countries Creditor countries running current account surplus Debtor countries Running current account deficits To maintain an orderly financing of deficits

Opportunities for Taiwan London Financial Center UK Wall Street US Taiwan Middle East PRC